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New Mexico State Investment Council, Santa Fe, will consider approving investment policies for the infrastructure, timberland and farmland suballocations in its 10% long-term real asset portfolio, said Charles Wollmann, spokesman for the $15 billion investment council.

The exact suballocations are still in the discussion stages, but infrastructure and timberland could each be allocated 30% of the real asset portfolio, Mr. Wollmann said.

Sixty percent to 100% of each suballocation would be strategically allocated, up to 40% tactically, and up to 10% each in publicly traded investments and in emerging markets.

The changes will be considered at the investment council's June 26 meeting.

Separately, the investment council committed $75 million to Global Infrastructure Partners II, its first infrastructure investment.
Townsend Group, the council's real estate consultant, plans to recommend about $265 million in new infrastructure commitments over the next 12 to 24 months, according to meeting materials.

Separately, the council's investments returned 9.45% for the quarter ended March 31, ranking it in the top percentile of plans with more than $1 billion in assets in the Wilshire TUCS Universe, Mr. Wollmann said.